Jaspal News & Off Licence Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04523004 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2016

FOR

JASPAL NEWS & OFF LICENCE LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Harpal Singh Nijjar

SECRETARY:

Mrs Jasbender Kaur Nijjar

REGISTERED OFFICE:

323 Nottingham Road

Basford

Nottingham

NG7 7DA

REGISTERED NUMBER:

04523004 (England and Wales)

ACCOUNTANTS:

Altman, Smith & Co.

461 - 463 London Road

Heeley

Sheffield

South Yorkshire

S2 4HL

FIXED ASSETS

Intangible assets

2

14,400

16,200

Tangible assets

3

-

(47

)

14,400

16,153

CURRENT ASSETS

Stocks

31,290

28,305

Debtors

301

545

Cash at bank and in hand

3,512

7,631

35,103

36,481

CREDITORS

Amounts falling due within one year

4,919

6,284

NET CURRENT ASSETS

30,184

30,197

TOTAL ASSETS LESS CURRENT
LIABILITIES

44,584

46,350

CREDITORS

Amounts falling due after more than one year

(44,349

)

(47,112

)

PROVISIONS FOR LIABILITIES

(18

)

(18

)

NET ASSETS/(LIABILITIES)

217

(780

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

117

(880

)

SHAREHOLDERS' FUNDS

217

(780

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 3rd November 2017 and were signed by:

Harpal Singh Nijjar - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2015

and 31st October 2016

36,000

AMORTISATION

At 1st November 2015

19,800

Amortisation for year

1,800

At 31st October 2016

21,600

NET BOOK VALUE

At 31st October 2016

14,400

At 31st October 2015

16,200

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2015

and 31st October 2016

8,171

DEPRECIATION

At 1st November 2015

8,218

Charge for year

(47

)

At 31st October 2016

8,171

NET BOOK VALUE

At 31st October 2016

-

At 31st October 2015

(47

)

4.	CALLED UP SHARE CAPITAL